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    The effects of european economic integration and the impact of Brexit on the uk immigrants from the CEE countries
    (Technical university of Liberec, Czech Republic, 2017-03-15) Simionescu, Mihaela; Bilan, Yuriy; Smrčka, Luboš; Vincúrová, Zuzana; Ekonomická fakulta
    Considering the debates regarding lower increase in the economic growth after Brexit, the main objective of this paper is to measure the positive impact of economic integration of Central and Eastern European (CEE) countries on the UK economy and the effect of Brexit on the immigration from these countries to the UK. The European Union membership of some CEE countries increased, in average, the number of the UK immigrants by 12 times in the period 2004-2014 compared to the group of countries formed by Russia and Ukraine. The empirical findings show positive economic effects of immigration on the UK’s economy, even if the pro Brexit group claimed that a control of immigration is necessary. CEE countries emigrants stimulated the UK economic growth, price stability and reduced the homicide rate. The effects of immigration on the unemployment rate, health and education spending were positive, but very low. According to mixed-effects Poisson models estimations, after Brexit the number of the UK immigrants from the CEE countries that are member of the EU might decrease by 2 times. This significant decline in immigration might impose austerity measures, because of the fall in the economic growth trend with negative impact on the UK economy. Therefore, we recommend policies that focus more on high-skilled labour force than on the reduction of the number of immigrants. The UK should propose measures to slow the expected immigration decline in order to alleviate economic issues like decline in economic growth, decrease in labour productivity, cutting backs on public services.
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    Behavioural economics of organization: employees and managers
    (Technical university of Liberec, Czech Republic, 2017-03-15) Houdek, Petr; Koblovský, Petr; Ekonomická fakulta
    This short perspective article presents an overview of empirical evidence on the behavioural organizational economics on the basis of the extended standard model of worker's behaviour. The advancements of behavioural economics theories, new detailed and structured data on actions of economic actors, and increasingly used fields experiments provide a strong basis for the creation of more precise and more robust models of the behaviour of employers and employees. In this article we analyse 4 stylized extensions of standard model of worker's behaviour. Firstly, we give several examples of worker's reference dependent decision-making. Secondly, we utilize Akerlof’s hypothesis on the relationship between an employer and an employee which is as predicted very reciprocal, similarly to the gifts exchange paradigm. We show that the more the employee thinks s/he is trusted by the employer, the harder and more efficiently s/he works. Thirdly, we show several instances of the importance of extrinsic and intrinsic motivation in employees and how those two motivations interfere with each other and crowd each other out in some situations. The research shows that meaningfulness of the work can be a significant driver of the employees’ efficiency as well. In the last section devoted to employees we provide evidence on the impacts of relative performance compensation on cooperation, reciprocity, and sabotage in firms. The last part is devoted to analysing behavioural regularities of managers in their day-to-day decision-making. The overview briefly expands particularly on their over-optimism and on their possibly undeserved remuneration resulting from random events and market changes rather than from the managerial skills. The article concludes by proposing possible directions for further field research.
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    Pricing of the tourism product: a tool for entrepreneurs to adapt to a flexible market
    (Technical university of Liberec, Czech Republic, 2017-03-15) Buiga, Anuţa; Stegerean, Roxana; Chiş, Alexandru; Lazăr, Dorina; Ekonomická fakulta
    The paper approaches the hedonic pricing analysis as a useful instrument for tourism entrepreneurs to get a competitive advantage through price setting policies. The main goal of this research is to conduct an analysis useful to measure the marginal effect of the attributes which contributes to price setting; the empirical analysis is developed on the prices of accommodation establishments from Romania. The study focuses on small and medium sized accommodation units, most of them entirely privately-owned. Within the analysis we set attributes from inside and outside the accommodation establishment as long as they are both ultimately linked with the pricing policy. Several hedonic specifications are estimated, in order to investigate the significance of accommodation attributes in the formation of room rates. There is a set of attributes with significant effect on the room price in all models, but with different intensity. The managers have to pay more attention to their internal facilities, goods or amenities (as recreational facilities), and to be committed to increasing the quality of their service delivery process, but there is also an opportunity for higher prices supported by attractive neighbourhoods. These findings are useful for the entrepreneurs interested in developing new businesses in tourism but also for managers already performing in the sector. Both categories have to face challenges such as new services development, price setting policy, choosing new locations. A flexible pricing strategy could become an effective and efficient tool for accommodation units in order to increase their performance. These elements are potential competitive dimensions and provide good opportunities for adapting to a dynamic market. Public and local administration organizations can develop appropriate policies for regional development based on hedonic models and thus, generate revenues and create opportunities for a sustainable development of tourism and also of the geographical region.
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    Multi-criteria group decision-making using an extended edas method with interval type-2 fuzzy sets
    (Technical university of Liberec, Czech Republic, 2017-03-15) Ghorabaee, Mehdi Keshavarz; Amiri, Maghsoud; Zavadskas, Edmundas Kazimieras; Turskis, Zenonas; Ekonomická fakulta
    Multi-criteria decision-making (MCDM) methods are very useful in the real-world decision-making problems. We are usually confronted with the decision-making process in an uncertain environment, and the fuzzy set theory is an efficient tool to handle this uncertainty. Interval type-2 fuzzy sets are one of the extensions of the fuzzy sets which are very flexible to model an uncertain environment. This study is related to MCDM problems within the context of interval type-2 fuzzy sets (IT2FSs). The evaluation based on distance from average solution (EDAS) method is a new and efficient MCDM method, and assessment of alternatives in this method is based on the distance of them from average solution with respect to all criteria. In the EDAS method, each alternative has positive and negative distances which are used to determine the appraisal score of it. In this research, we present an extended EDAS method, which is named EDAS-IT2FSs, for dealing with multi-criteria group decision-making problems with interval type-2 fuzzy sets. Basic concepts of interval type-2 fuzzy sets and the arithmetic operations of trapezoidal IT2FSs are used to develop the extended EDAS method. A numerical example of multi-criteria subcontractor evaluation problem is used to illustrate the process of using the extended EDAS method. The example involves eight subcontractors that need to be evaluated with respect to seven criteria. A comparison and a sensitivity analysis based on different sets of criteria weights are also performed to show the validity of the proposed method. The results of these analyses show the efficiency and stability of the extended EDAS method.
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    Spatially blind or place based policy? A comparison of innovation support in the Czech and Slovak Republic
    (Technical university of Liberec, Czech Republic, 2017-03-15) Šipikal, Miroslav; Szitásiová, Valéria; Pisár, Peter; Uramová, Mária; Ekonomická fakulta
    With the ongoing changes in development of the European Union, also conditions for financial support are changing. For Central Europe, most financial aid comes from Cohesion policies. The same applies for the support of innovations, which are considered to be a driving force of development. One of the main debates concerning cohesion policy is the issue of “placed based” versus “spatially blind” policies. Their role mainly differs within the area of economic growth. This paper deals with the evaluation of innovation support as a driving force for economic growth from structural funds in two neighbouring EU member states – in Slovakia and the Czech Republic. This article provides a picture of what kinds of policies are implemented and how consequently the resources of the European Union are territorially distributed to support innovation. We especially dealt with the question of the support criteria for projects and their role in the implementation of support. Based on this, the paper tries to identify where assistance is concentrated and how the criteria influence the geographical distribution of this support.As a result, we found that, despite very similar spatially blind policies in both countries and very similar systems of providing support, they still have very different regional effects. In the Czech Republic, support was allocated to developed regions and high tech sectors to a greater extent. In the Slovak Republic, support was concentrated more on disadvantaged regions and in traditional sectors with lower added value. It shows the need to pay much more attention not only to policy set up, but also to policy implementation.